So the news is out there already, mostly attributed to Reuters and "Industry Insiders". It would seem that Richard Mille is ready to part company with his watch brand.
Reuters broke the news that PPR is in talks with Richard Mille to purchase 51% (and therefore controlling) interest.
The theory being that Mille would stay on in some sort of executive role for a fixed period of time.
By all accounts, it would seem that SWATCH, LVMH and Richemont are sitting this one out.
So it would seem that this could be the next horological jewel in the crown for PPR. But what I personally find more interesting is that there is, to some extent, a third wheel in this equation. Audemars Piguet by many accounts not only provides movements for Richard Mille, but also own a small percentage. So it is of course RIFE for speculation as to first and foremost, would AP move along with the deal maintaining their (some report) 10%? Would they sell up, or is there a further twist in the tail?
We will see - but for the whole story, here is a link to what Reuters released earlier -
http://www.reuters.com/article/2013/06/17/us-ppr-richardmille-idUSBRE95G0N520130617
Reuters broke the news that PPR is in talks with Richard Mille to purchase 51% (and therefore controlling) interest.
The theory being that Mille would stay on in some sort of executive role for a fixed period of time.
By all accounts, it would seem that SWATCH, LVMH and Richemont are sitting this one out.
So it would seem that this could be the next horological jewel in the crown for PPR. But what I personally find more interesting is that there is, to some extent, a third wheel in this equation. Audemars Piguet by many accounts not only provides movements for Richard Mille, but also own a small percentage. So it is of course RIFE for speculation as to first and foremost, would AP move along with the deal maintaining their (some report) 10%? Would they sell up, or is there a further twist in the tail?
We will see - but for the whole story, here is a link to what Reuters released earlier -
http://www.reuters.com/article/2013/06/17/us-ppr-richardmille-idUSBRE95G0N520130617
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